Dalvir Suri, one of the co-founders of Bengaluru-based hyperlocal delivery startup Dunzo, is leaving the company. CEO Kabeer Biswas informed employees of Suri’s departure via email on October 1st.
Challenges at Dunzo
Suri’s exit comes at a challenging time for the company. The company has faced issues such as delayed employee salaries and fundraising difficulties. Despite these challenges, Suri had stayed on at Dunzo, mainly overseeing the company’s B2B delivery arm, Dunzo Merchant Services (DMS), which became a core business driver. He also managed relationships with key clients, including Reliance JioMart, owned by Dunzo’s largest shareholder, Reliance Retail.
Background and Co-Founders
Dunzo was founded in 2014 and has four co-founders: Kabeer Biswas, Dalvir Suri, Mukund Jha, and Ankur Agarwal. Notably, only Kabeer Biswas holds equity in the company, while the others receive fixed salaries.
Suri had reportedly considered leaving earlier but remained due to the company’s crises in recent months.
Check Out: Nitin Gadkari Announces Key Infrastructure Project to Reduce Delhi Airport Travel Time
Impact and Restructuring
Suri and Mukund Jha were primarily handling staff-related matters during the past few months, including layoffs and operational issues, while Biswas focused on fundraising.
Kabeer Biswas praised Suri’s contributions, describing him as instrumental in developing new lines of business and embodying a “Let’s do it” attitude. Suri plans to take a break after more than six years with Dunzo.
Dunzo is currently implementing organizational changes and restructuring its business. The DMS business, where Suri played a significant role, will have capable leadership taking over his responsibilities.
Financial Struggles and Fundraising Challenges
Dunzo has faced severe financial challenges, including delayed salary payments and multiple rounds of layoffs. The company is trying to secure $35 million to $40 million in funding to sustain its operations.
In FY22, the company reported a 2X increase in net losses, totaling INR 464 crore, while its operating revenue grew 2.1X to INR 54.3 crore.
Co-Founder Mukund Jha Also Set to Depart
Following Suri’s exit, Mukund Jha, co-founder and chief technology officer (CTO), is reportedly planning to leave the company. Jha has stepped back from daily operations, and an official announcement may come in the coming weeks.
Dunzo has confirmed that Jha is an integral part of its leadership team, but internal sources suggest his exit is imminent. The company has been restructuring its organization with new leaders taking on key roles. Despite the challenges and departures, Dunzo continues to navigate its path forward in the hyperlocal delivery space.
Check Out: Aishwarya Rai Bachchan's Dazzling Ramp Walk for L'Oreal Paris Défilé 2023Please note that the information about Mukund Jha’s departure is still unconfirmed, and Dunzo has stated that he remains part of the company’s leadership team as of now.
